Get Ready for Global Tax and Bank Deposit Confiscation

Obama is bad, but he’ll be out of office in 2017, but his Marxist policies will continue on a national and global scale as a global tax and worse are in the works.

Did you know that voters in NY City elected a self-admitted Marxist for mayor? Mayor-elect Bill de Blasio won with nearly 75 percent of the vote. De Blasio has a long history of Marxist sympathies going back to his support for the Communist Sandinistas.

Prior to the mayoral election, “de Blasio had scrubbed the Marxist connections from his campaign website, an omission that momentarily captured the attention of The New York Times. But once these connections and controversies came to light, he embraced his sordid history. He still embraces liberation theology and his work for the communist Sandinistas in Nicaragua.”

So-called Progressives are anticipating de Blasio’s Marxist sympathies to translate into more wealth redistribution. Chris Shelton, a vice president with the Communication Workers of America union, told liberal sympathizers “to join a ‘revolution’ against the ‘bankers, billionaire and brokers of Wall Street.’”

I’m against the banking system as well because of its incestuous ties to the Federal government and support of both parties. But de Blasio and Shelton have more in mind. They want more government control of the banks, possibly even to nationalize them, and de Blasio has designs on “excessive” wealth. Do New Yorkers know what they voted for? “As former New York mayor Ed Koch once quipped,” Scott McKim of National Review Online wrote, “‘The people have spoken . . . and they must be punished.’”

“[H]ouseholds from the United States to Europe and Japan may soon face fiscal shocks worse than any market crash. The White House and New York Mayor-elect Bill de Blasio aren’t the only ones calling for higher taxes (especially on the wealthy), as voices from the International Monetary Fund to billionaire investor Bill Gross increasingly make the case too.”

Higher taxes will not save an economy. Foreign aid most often goes to corrupt political leaders and rarely makes its way to the people in need who are most often in need because of their corrupt and oppressive political leaders. Poor nations need a free economy, stable government, and a bottom-up moral worldview that is the essence of self-government and trust. Like their secular counterparts, religious liberals have not learned this lesson.

Wealth confiscation is on the rise, Consider that “in France, President François Hollande finally managed to pass a 75% tax on income above one million euros and now he is seeking to limit the tax benefits of ‘life insurance contracts,’ a long-term savings instrument used by most wealthy households.”

You may be thinking that they’re only after the big guys. That’s how the income tax amendment got passed. It gained popular support because the majority of people were under the delusion that they would never be taxed. Surprise!

After the pockets and back accounts of the wealthy are picked, guess who’s next? “From New York to London, Paris and beyond, powerful economic players are deciding that with an ever-deteriorating global fiscal outlook, conventional levels and methods of taxation will no longer suffice. That makes weapons of mass wealth destruction—such as the IMF’s one-off capital levy, Cyprus’s bank deposit confiscation, or outright sovereign defaults—likelier by the day.”

Gary DeMar

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